11:13 - 7.12.2023

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December 7, Fineko/abc.az. Today, a groundbreaking ceremony was held at the Pirallahi Industrial Park for the pharmaceutical production facility of Gen Pharma Caucasus Manufacturing Operations LLC.

ABC.AZ reports that Economy Minister Mikayil Jabbarov, company’s head Abidin Gulmus, as well as other officials, took part in the event.

On July 31, 2023, Azerbaijan Investment Company JSC under the Ministry, Türkiye's Gen Ilac ve Saglik Urunleri Sanayi ve Ticaret AS, and SIA Pharmaceutical LLC signed a partnership and joint participation agreement on the establishment of a pharmaceutical plant in the Pirallahi Industrial Park. As a result of the work carried out according to the document, the foundation of the pharmaceutical production plant is being laid today on the territory of 7.8 hectares of the Park.

With the application of Türkiye's advanced technologies, medicinal products of 42 names in different dosages and packaging will be produced at the enterprise. The investment cost of the plant to be built is 59.3 million manats ($34.88 million). 165 people will be permanently employed in the enterprise.

After the launch of the plant, the demand for a number of pharmaceutical products in the country will be satisfied at the expense of domestic production, dependence on imports will be reduced. The products produced at the plant with an annual production capacity of 50 million packages are also to be exported to the countries of the region under brand Made in Azerbaijan.